4. When the Titanic sank in 1912, there were over 1,300 passengers aboard. A random sample of 50 passengers that were aboard is taken. The amount they paid for the voyage and whether or not they survived is recorded. A model is fit to predict the probability they survived when the ship sank is obtained. Survived Logistic Fit of Survived By Fare 1.00- 0.75 0.50 0.25 So... 50 Parameter Estimates 100 Term Intercept -1.404254 0.4353289 Fare 0.01246686 0.0097945 For log odds of Yes/No Fare 150 Estimate Std Error ChiSquare Prob>ChiSq 10.41 1.62 200 0.0013* 0.2031 No Yes a) Suppose someone paid a fare of 25 pounds. Predict the probability they survived. b) How much would someone pay to have at least a 65% chance of survival?
4. When the Titanic sank in 1912, there were over 1,300 passengers aboard. A random sample of 50 passengers that were aboard is taken. The amount they paid for the voyage and whether or not they survived is recorded. A model is fit to predict the probability they survived when the ship sank is obtained. Survived Logistic Fit of Survived By Fare 1.00- 0.75 0.50 0.25 So... 50 Parameter Estimates 100 Term Intercept -1.404254 0.4353289 Fare 0.01246686 0.0097945 For log odds of Yes/No Fare 150 Estimate Std Error ChiSquare Prob>ChiSq 10.41 1.62 200 0.0013* 0.2031 No Yes a) Suppose someone paid a fare of 25 pounds. Predict the probability they survived. b) How much would someone pay to have at least a 65% chance of survival?
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...
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